What Party City Holdco Employees Need to Consider Before Making the Leap to Retire Abroad

Healthcare Provider Update: Healthcare Provider for Party City Holdco Party City Holdco employees generally receive healthcare coverage through various major health insurance providers, including large insurers like UnitedHealthcare, Aetna, Anthem, and Cigna. These providers offer a range of plans tailored to meet the needs of employees while also adhering to regulations regarding healthcare coverage. Potential Healthcare Cost Increases in 2026 In 2026, healthcare costs are anticipated to surge significantly, with many employers projecting a median increase of around 10%. This escalation is primarily driven by spiraling medical expenses, including high-cost specialty prescriptions, and the expiration of enhanced subsidies under the Affordable Care Act (ACA). With certain states facing premium hikes of over 60%, individuals enrolled in the ACA plans may see their out-of-pocket expenses rise sharply, creating financial strain for many, particularly those approaching retirement. Employers and employees alike will need to prepare strategically to navigate these rising costs effectively. Click here to learn more

For example, Party City Holdco employees planning on moving overseas need to have a clear plan of action to overcome the challenges of acquiring residency and citizenship in another country,' according to Brent Wolf from The Retirement Group at Wealth Enhancement Group.

Kevin Landis of The Retirement Group, a division of Wealth Enhancement Group, explains why detailed planning is crucial for Party City Holdco employees who intend to retire abroad. However,

In this article we will discuss:

1. The complexity of obtaining residency or citizenship abroad: Discussing the legal, financial, and cultural issues that are involved in moving overseas for Party City Holdco employees.

2. The necessity of professional advice and planning: Emphasizing the importance of thorough preparation and professional advice to ensure a smooth transition to retiring abroad.

3. Tax advantages and financial planning for retirees: Explaining the possible tax advantages that are available through international treaties and the strategic financial planning that needs to be done for the retirement savings of Party City Holdco employees.

Simply for political, economic, and social reasons, many Party City Holdco employees are looking to secure citizenship or residency in other countries if the United States is not as attractive as it once was. But, getting residency in another country and, perhaps, citizenship is not as simple as just buying a plane ticket and setting an itinerary.

This is because there are many processes that may take a few years to accomplish at times. The more people who are considering these options, the more difficult these choices become. It is therefore crucial to identify the legal, financial, and cultural implications that arise in order to ensure a smooth transition to a new home overseas before embarking on this journey.

Without a proper plan and some professional advice, it can be quite a challenge to switch gears and retire during your tenure at Party City Holdco.

The impact of potential tax advantages when retiring abroad will definitely affect your financial position. Many countries, including the United States, have tax treaties that prevent income from being taxed twice. For instance, pensioners are attracted to Portugal by the Non-Habitual Resident (NHR) regime that offers special tax concessions for up to 10 years.

You can enhance your retirement benefits by taking advantage of these perks and seeking the advice of a tax specialist. The IRS notes that because these treaties can be very different it is important to research and seek the advice of a professional (IRS, 2023). These advantages must be used by Party City Holdco employees to enhance their retirement.

Expatriating and retiring is a process of planning a long and beautiful road trip. Just as you would not travel without a map, a well-maintained car, and knowledge of your location, Party City Holdco employees who are retiring abroad need to plan carefully.

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Step by step, you will be guided on how to make your transition to your new home easier, from explaining cultural differences and tax benefits to helping you understand the legal and financial environment. Just as a road trip opens new views and experiences, retirement abroad presents a world of possibilities for a happy and comfortable retirement.

Sources:

1. The Warren Street Wealth Advisors Team. 'Party City Holdco and Large Company Employees.' Warren Street Wealth Advisors, 3 Feb. 2025, Accessed from warrenstreetwealth.com.

2. 'US Taxes for Americans Retiring Abroad in 2025.' MyExpatTaxes, 20 Nov. 2024, Accessed 3 Feb. 2025 from myexpattaxes.com.

3. Toms, Mary, CPA, MBA, MS. 'US Tax Implications of Retiring Abroad: What You Need to Know.' PBMares, 10 Dec. 2024, Accessed 3 Feb. 2025 from pbmares.com.

4. 'Financial Planning for US Expatriates.' The Expat Financial, Accessed 3 Feb. 2025 from expatfinancial.com.

5. 'Retiring Overseas: What You Need to Know About Your US Taxes and Financial Planning.' Expat CPA, Accessed 3 Feb. 2025 from expatcpa.com.

   What is the 401(k) plan offered by Party City Holdco?

   The 401(k) plan offered by Party City Holdco is a retirement savings plan that allows employees to save a portion of their paycheck before taxes are taken out.

   How can employees enroll in the 401(k) plan at Party City Holdco?

   Employees can enroll in the 401(k) plan at Party City Holdco by completing the enrollment form available through the company's HR portal.

   Does Party City Holdco match employee contributions to the 401(k) plan?

   Yes, Party City Holdco offers a matching contribution to employee 401(k) plans, helping to enhance retirement savings.

   What is the eligibility requirement for Party City Holdco's 401(k) plan?

   Employees of Party City Holdco are generally eligible to participate in the 401(k) plan after completing a specified period of service, typically 30 days.

   What types of investments are available in Party City Holdco's 401(k) plan?

   Party City Holdco's 401(k) plan offers a variety of investment options, including mutual funds, target-date funds, and other investment vehicles.

   Can employees change their contribution percentage to the 401(k) plan at Party City Holdco?

   Yes, employees at Party City Holdco can change their contribution percentage at any time, subject to plan rules.

   What is the maximum contribution limit for the 401(k) plan at Party City Holdco?

   The maximum contribution limit for the 401(k) plan at Party City Holdco is subject to IRS regulations, which may change annually.

   Does Party City Holdco offer a Roth 401(k) option?

   Yes, Party City Holdco provides employees with the option to contribute to a Roth 401(k), allowing for after-tax contributions.

   How often can employees at Party City Holdco make changes to their investment allocations in the 401(k) plan?

   Employees at Party City Holdco can typically make changes to their investment allocations on a quarterly basis or as specified in the plan documents.

   What happens to the 401(k) plan if an employee leaves Party City Holdco?

   If an employee leaves Party City Holdco, they have several options for their 401(k) plan, including rolling it over to another retirement account, cashing it out, or leaving it in the current plan.